KUALA LUMPUR: Sunway Bhd has established a Perpetual Islamic Medium Term Note (IMTN) Programme of up to RM5 billion to be utilised to finance the investment activities, capital expenditure, working capital requirements and/or general corporate purposes. It said the first IMTNs is expected to be issued out of the Sukuk Programme by the first quarter of 2018. Kenanga Investment Bank Berhad is the Sole Principal Adviser, Sole Lead Arranger and Sole Lead Manager for the Sukuk Programme. Proceeds from the sukuk programme will be used, among others, to finance the investment activities, working capital requirements and/or general corporate purposes of the issuer and/or Sunway and/or its subsidiaries, it said in a filing. The notes, which will have a tenure of up to 100 years, allow Sunway to issue different tranches from time to time that may be unsecured or secured with different pools of assets/securities during the tenure of the sukuk programme.

Source: New Strait Times December 15, 2017 12:11 UTC